October 27, 2016

Daniel J. Graeber, UPI

MELBOURNE, Oct. 27 (UPI) -- MEO Australia, the only Australian company with a footprint in Cuba, said ongoing work is expected to translate to more potential oil reserves in the country.

In an update on operations through the end of September, the company, one of the few Western companies working in Cuba, said it identified oil plays in so-called Block 9 that combine for an estimated 8.2 billion barrels of oil in place. The company'sbest estimate is that it could recover about 395 million of those barrels.